Kenyan Premier League increases shareholding to 19

The Board of Directors were authorized to allot the issued ordinary share capital to the 18 members of the Company

Kenyan Premier League have approved additional shares and alloted them to new members making a total of 19 shareholders in the company.

This was done on Saturday during the companies Annual General Meeting where the Board of Directors and the Company Secretary were authorised to allot additional shares from the ordinary shares of the Company to Nakumatt Football Club, Zoo Football Club and Football Kenya Federation, making a total of 19 shares.

A statement from KPL confirmed, "The Kenyan Premier League held its Annual General Meeting on Saturday in Nairobi where addition shares were approved and allotted to new members making a total of 19 shareholders in the company.

"The meeting authorized the Board of Directors and the Company Secretary to allot additional shares from the ordinary shares of the Company to Nakumatt Football Club, Zoo Football Club and Football Kenya Federation, making a total of 19 shares. These two new clubs in the League will thus each have one ordinary share while FKF will have one special share.

"New members to whom one ordinary share each was transferred to are Kariobangi Sharks Football Club and Nzoia Sugar Football Club. The meeting also resolved to increase the current share capital of the company of Sh100,100 by Sh900, 000, by increasing the 1, 000 ordinary shares of the Company through creation and issuing an additional 8, 000 ordinary shares making in all 9, 000 ordinary shares of the Company and one special share of Sh100.

"The Board of Directors were authorized to allot the issued ordinary share capital to the 18 members of the Company holding ordinary shares. Consequently, each of the members will be allotted an additional 499 ordinary shares."